Wailuku, HI Real Estate News

By Georgie Hunter R(S) 58089, Maui Real Estate sales and lifestyle info
(Hawai'i Life Real Estate Brokers)
OLD WAILUKU TOWN - Maui County Hawaii driving into old Wailuku Iao Elementary School Ichiban Okazuya West Maui mountain view classic Wailuku 3BD/1BA home for sale I took these the other day when showing a Wailuku homes for sale to some clients - young first time home buyers from Maui.  You know, some parts of Old Wailuku are just dripping with charm - classic homes and businesses from the 1920's and 30's.  Some of the most affordable housing and real estate on Maui is in Wailuku.  Wailuku is also the County seat, with the government offices and all that.  Want to see more Wailuku buildings? Then I grabbed some lunch at the Ichiban Okazuka - that's like local-style Japanese take out food.  Got the chicken katsu mini plate, with veg.  Damn it was good.  Busy spot at lunch time in Old Wai...
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By Steven Nickens, R(S)GRI ABR, Maui Real Estate Hawaii
(Wailea Realty)
I read this article on CNN.com this morning.  The article was stating that Obama and McCain are spending $300 million a week on negative campaign ads.  On top of that they are not working. So the article was saying that instead of spending all that money on negative ads that are not working give it to the homeless shelters to help people who are out of work from losing their jobs. What a great idea, then they could really show the American people how much they care.  Here is the link.http://www.cnn.com/2008/POLITICS/10/16/campbell.brown.negative.ads/index.html?eref=rss_topstories Steven Nickens R(S) GRI ABR The Wailea Group LLC. Wailea, Maui, Hi 96753 www.nickensmaui.com Email: nickens@maui.net
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By Steven Nickens, R(S)GRI ABR, Maui Real Estate Hawaii
(Wailea Realty)
  A lot of people really enjoy living in central Maui. What is great about central Maui is it is right in the middle of the island. If you happen to work in Wailea it is only a 20 minute drive. To lahaina it is around a 30 minute drive so you really cut down on your driving time. Kahului and Wailuku offer a few great options in new housing.  In Kahului you have Maui Lani and the legends which are pretty new housing projects. Now with the economy slow you will find great developer deals and the re-sales can offer some pretty fantastic prices. Wailuku and Waikapu offer some beautiful new construction homes by Stanford Carr and Townhomes.  They offer a variety of upgrades and some of the homes offer amazing oceanviews. So with the whole package it is very enticing to live in central Maui. ...
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By Sean Crowley
(Tom and Sean Maui Real Estate)
The Fairways at Maui Lani, one of the Wailuku subdivisions embroiled in a lawsuit is being put up for sale.   The Fairways at Maui Lani - one of two subdivisions at the center of lawsuits over grading laws and site preparation damages - is being put up for sale. The asking price is $13.5 million. The 50-lot subdivision on the Dunes Golf Course was put on the market Tuesday...The listing says the infrastructure for the subdivision including sewer, underground electric, cable, telephone and drainage, will be completed within the next 30 days..  While the grading issues and the lawsuits are peculiar to this development, our guess is it is more fundamental economics that are driving this sale. Tighter lending markets, slower demand for new homes and still high construction costs probably al...
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By Steven Nickens, R(S)GRI ABR, Maui Real Estate Hawaii
(Wailea Realty)
  .  . How to sell your home or condo in a slow Maui market?   We all know that the real estate market has really slowed down.  Maui homes for sale are not exempt from this current market. So what can I do to sell my Wailea Maui home or condo more effectively?  Pricing your home to current sales in the last six months is really important.  Have your Realtor do a price comparable of homes recently sold.  You might also think about getting an early appraisal.  This will also help all potential buyers get a reality check. I would recommend getting an early home inspection.  This will save you time so your buyer has full disclosure.  You can also list any defects if you want to use an AS-IS Addendum.  I would also recommend getting the termite inspection done during your inspection period s...
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By Steven Nickens, R(S)GRI ABR, Maui Real Estate Hawaii
(Wailea Realty)
      Maui financial update report from the Maui news.   A new state economic forecast downplays the long-term impact of recent layoffs and bankruptcies. The report reduces economic expectations for the fiscal year that began July 1 from 2 percent growth to 1 percent but sees better years ahead. ''Some people are panicking, but the numbers aren't that bad,'' said Pearl Imada Iboshi, state economist, noting that economic trends go through cycles. She said recent developments are a shock but do not portend the collapse of the island economy. Many people have been laid off from jobs in the state this year as gas prices soar and push other costs up throughout the island economy. Iboshi points to good news in recent weeks, such as the decline in crude oil prices. ''I really believe that over...
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By Steven Nickens, R(S)GRI ABR, Maui Real Estate Hawaii
(Wailea Realty)
Wailuku Maui Homes SoldHere are the sales for Wailuku Maui Homes that sold from January 2008 to date.  There were over 200 homes sold in this period from $357K to $737,600.  The median price was $562,250 with a lot of the activity coming from new construction closing. View all Wailuku real estate currently for sale in Maui MlS Wailuku has a lot of quality homes offered at pretty reasonable prices from the developers with great incentives. For information on new homes in this area email Steven for information on new developments in Wailuku and Kahului area. www.nickensmaui.com  I work for Elite Pacific Properties, #1 in luxury home sales in Hawaii. I am looking forward to introducing you to Wailuku communities, the lifestyles and the prestigious real estate properties in Wailuku Maui. Si...
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By Jeffery Griffin, Broker Owner
(Jeff Griffin LLC )
The ferry between Molokai and Maui is increasing its one-way fare to $68.40 the increase was due to the rising cost of fuel. The last fare increase was in 1995, and since then the price of diesel fuel has risen to $4.40 from $1 a gallon. spokesman at the sea link have been quoted saying "We can't take the losses any longer," "If the tariff doesn't pass, we shut down."
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By Georgie Hunter R(S) 58089, Maui Real Estate sales and lifestyle info
(Hawai'i Life Real Estate Brokers)
Dear Diary, On Saturday I met with some first time home buyers, nice young local couple, from Hawaii.  They are renting in Pukalani and want to move closer to work... she works at the Maui Memorial Hospital, him at the golf course in Waikapu.  We looked at a unit in the Iliahi at Kehalani complex.  These are nice 2 story 4-plex townhouse condos.  They really like the end units because they have more windows, which makes sense.   They like this development because it's new and nice looking, and the views.  (not interested in Kehalani Gardens ... too close to the prison)  It's a perfect location, right in between both of their jobs.  Even though the maintenance fees are over $400. they will save a lot on gas, being so much closer to work.  It was really quiet up there at Iliahi, away from...
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By Steven Nickens, R(S)GRI ABR, Maui Real Estate Hawaii
(Wailea Realty)
  .  How to effectively sell your home in a slow Maui market?   We all know that the Maui real estate market or for that fact national real estate market has really slowed down.  Maui homes for sale are not exempt from this current market. So what can I do to sell my Maui home or condo more effectively?  Pricing your home to current sales in the last six months is really important.  Have your Maui Realtor do a price comparable of homes recently sold.  You might also think about getting an early appraisal.  This will also help all potential buyers get a reality check. I would recommend getting an early home inspection.  This will save you time so your buyer has full disclosure.  You can also list any defects if you want to use an AS-IS Addendum.  I would also recommend getting the termit...
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By Jeffery Griffin, Broker Owner
(Jeff Griffin LLC )
The first half of 2008 in Maui saw fewer real estate transactions compared to the first half of last year, with 25.9% less single-family homes and 17.8% fewer condominiums being sold. Home prices experienced a drop of about 8.9% to $590,000 from $647,000 last year.   Overall condominium prices for the rest of the island remain stable with a slight 0.9% increase. For single-family homes the majority of sales in the first half of 2008 occured in Wailuku, followed by Kihei and Kahului.    
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By Steven Nickens, R(S)GRI ABR, Maui Real Estate Hawaii
(Wailea Realty)
Wailea MAUI REAL ESTATE MARKET!   What is happening in the Wailuku Maui real estate market? I do believe we are different from a lot of the mainland market problems. Maui has always been a destination for people looking for sun and great beaches.  With the dollar losing value Maui like other U.S. Markets has become a great value for foreign buyer's.  Residential sales on Maui has seen a decrease in home values and slower sales. This is not true for condos sales in the resort areas.  On Maui real estate market, prices are actually up 3% for the first quarter and the number of sales up a bit. So if you are looking to sell, remember pricing is everything. Price as aggressively as you can to the most recent sales. In a slower area maybe price a little lower than the last sale.  If it is in ...
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By Pete Jalbert, R(S)
(The Maui Real Estate Team, Inc. )
When people think of Maui and Hawaii in general, they often think of the beach first. Heck as an island resident, when I have some down time I tend to grab my surf board and head to the beach before anything else. Yesterday the prospects for surf were limited so my friend Tom and I did something a little different and headed up to the Iao Valley in the West Maui Mountains. Maui has some beautiful mountain areas from the massive dormant volcano Haleakala to the lush and rugged West Mauis. The West Mauis are an old remnant volcano that is eroding rapidly. The results of the rapid erosion are jagged, steep and lush peaks. The steep slopes are filled with the trails from periodic waterfalls. When the area is subjected to heavier rain, hundreds of waterfalls spill down these steeper slopes. ...
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By Steven Nickens, R(S)GRI ABR, Maui Real Estate Hawaii
(Wailea Realty)
So you're looking to buy on Maui.  It is a great time to buy prices are down from 2005 peak.  There are a number of great buys. So what do you need to do to realize your dream home in Wailuku or Kula Maui or other parts of Maui?  It may be time to start looking for that condo in Kihei you been dreaming about. First step I would recommend is to talk to a lenderMany lenders help prospective buyers get pre-approved for a mortgage loan before they begin a serious house-hunting effort. Give the loan officer or mortgage broker all of the information about your assets, income, and debts so they can tell you how much money you will be able to get under the available loan options. The loan officer or mortgage broker will do a credit check and work with the lender to straighten out any problems ...
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By Jeffery Griffin, Broker Owner
(Jeff Griffin LLC )
First Friday is coming up again. August 1st in Wailuku old town. We are having so much fun there, music, art, sales, pupu's, drinks, the whole family can come out and its free.   All Ages Free Music  featuring Musk Buddies 5pm heir 15 years old you gotta dig that Sing Sing Laugh Laugh 5:45 pm My band and Pat Masumoto Uncle Dirty 6:15 pm Slam Funny dirty ole band From Haiku Poetry by Pat Masumoto in between band sets. August 1st 2008 5pm to 7pm Wailuku's First Fridays @ Gallerie Ha 51 North Market Street Wailuku, Hi. 96793     Don't miss out on the fun, lots of Realtors come down, so shuold you!!
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By Steven Nickens, R(S)GRI ABR, Maui Real Estate Hawaii
(Wailea Realty)
Hawaii Looking to tap into China's Market   As the travel restriction eases up for China.  We are going to see an influx of Chinese buyers to Hawaii.  A recent agreement between U.S. and China allows more leisure travel for groups to United States. This will help the visitor industry with the decline in Japanese visitors.  This will also have a Hugh impact on the Maui Real Estate market.  We are already seeing a few interested buyers looking around on Maui. So will this be the next wave of buyers like it was with Japan in the 90's, we will see.  After the Olympics' are over this summer then I believe the migration will begin. www.nickensmaui.com
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By Jeffery Griffin, Broker Owner
(Jeff Griffin LLC )
Hawaii foreclosures rank low on Foreclosures Hawaii ranked No. 42 in the nation, as compared to the four highest states. California (Properties with Foreclosure Filings): 64,683 Florida: 35,264 Arizona: 11,620 Nevada: 7,276 Is buying a foreclosure a good deal? Compared to what? Compared to a market that is priced right and a knowledgeable Realtor who knows their inventory. There are many properties that have no balance owed that are for sale. Mom and Pops who can sell for less down size and move on for much less then a foreclosure.   Short sales can be good yet the work and time involved are going to vary. I was told that all the inventory and amount of work on Hawaii short sales to date June 1st 2008 will take the rest of 2009 to finish and close. Thats not accounting for whats coming ...
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By Jeffery Griffin, Broker Owner
(Jeff Griffin LLC )
The price of condominiums on Maui rose in the first quarter of 2008. The median price of condominiums rose 6.2 percent to $587,000 in the first quarter of 2008, Most sales took place in the Wailea/Makena and Kihei areas. Prices in those communities appreciated 56.4 percent and 21.7 percent, respectively. Condo sales were down 0.7 percent, with 276 sales in the first quarter of 2008, compared with 278 in the same period a year ago. Home sales did not do as well, according to the report. Sales dropped 32.9 percent. There were 228 home sales in the first quarter of 2008, compared with 340 during the same period in 2007. Prices decreased 3.6 percent to $602,783. Almost half of the single-family home sales took place in Wailuku and Kahului, the report said.
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By Kathy Becklin, AlohaKathy
(Aloha Realty Group )
Aloha from Maui! I'm sitting at a Open House in Wailuku.  It is almost new 3 bedroom, 2 bath townhouse with a small fenced backyard. Large kitchen, nice bamboo laminate floors and staged very nicely.   When I started sitting opens here 2 months ago, it was priced at $424,000.  Now it is down to $396,000.   There are 15 active listings and 5 pendings in this same complex.  Similar units are priced from $385K-465K.  I'm sure the owner is asking,  "Why isn't my house selling?"In the central area of Maui, prices have stayed strong with 8% increase in last year in median condo prices.  So what is wrong?  The median condo price in this area is about $282,000 so these condos are "higher end".  Why should that impact this market?  If you think of basic segments of a market you have: Low end con...
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By Jeffery Griffin, Broker Owner
(Jeff Griffin LLC )
Work will close Wailuku block WAILUKU — One block of North Market Street between Wells and Main streets will be closed from Sunday morning until daylight Monday for construction work on the Market Street improvement project. The next block east, between Main and Vineyard streets, is being blocked from time to time at night, Sundays through Thursdays, until the middle of May as part of the same project. The contractor, Diversified Machinery Inc., is asking motorists to be alert and to use detours. From 9 a.m. Sunday until 6 a.m. Monday, Market will be completely closed, but Wells and Main streets will remain open. Motorists should anticipate delays. Continuing work on the block that includes Iao Theater will require occasional street closings. Motorists will have to detour to High Street...
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